SAN FRANCISCO — Intel is in the process of buying smartwatch startup Basis, as part of the tech giant's new focus on wearables and the Internet of Things. TechCrunch reported that Basis sold for between $100 million and $150 million.
San Francisco-based Basis designs a wrist-based health tracker and online personal dashboard to measure sleep cycle and activity. The Basis Sleep Tracker tracks and analyzes REM, light, and toss-and-turn sleep patterns using four different sensors: a three-axis accelerometer to measure body activity and sleep quality, a perspiration monitor, skin temperature sensor, and heart rate monitor for pattern accuracy.
A Basis smartwatch health tracker. Source: Basis
Intel would not comment on whether it purchased Basis, calling reports "all speculation and rumors." As of this printing, the company has not filed any documents with the US Securities and Exchange Commission about the reported deal.
Still, Intel has repeatedly emphasized the importance of the Internet of Things and wearables as future market drivers. Intel hopes Edison, a 22mm Quark-based computer housed in a SD card form factor, will power the next generation of smart, wearable devices.
"We are on a journey toward the Internet of Things, the all-pervasive, immersive Internet going into billions and connecting billions and billions of devices," Hermann Eul, Intel's vice president and general manager of mobile and communications, said at DesignCon 2014.
Intel aims to catch up to rivals such as Qualcomm and Texas Instruments, which currently provide many of the sensors for wearables, TechCrunch added. Were it to purchase Basis, Intel would have "access to a team that has built one of the most powerful and comprehensive wearables to date, which it then can set upon its own designs."
SeekingAlpha noted that Basis has 7% of the watch health tracker market, compared to Jawbone's 21%.
— Jessica Lipsky, Associate Editor, EE Times